he mortgage-free Governor of the Reserve Bank of NZ, Adrian Orr, says inflation is ‘evil’. In this extensive interview, he discusses his plan to reduce interest rates and his regrets.
The Governor of the Reserve Bank of New Zealand - the front man for our existing economic pain - has a few things he wants you to know.
“Inflation is the big evil, not higher, nominal interest rates.”
But: “Don’t fret inflation, it’s going away.”
In an extensive interview ontoday’s episode of Markets with Madison, mortgage-free Adrian Orr explained how his plan was working - rate hikes had lowered inflation, sent the the economy into a recession, some of us were spending less (himself included) and taking on less debt, while the majority still had jobs.
“I would feel bad about it if I didn’t think it was for the long-term benefit of the country,” Adrian Orr said.
Disclaimer: The information provided in this programme is of a general nature, and is not intended to be personalised financial advice. We encourage you to seek appropriate advice from a qualified professional to suit your individual circumstances.
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Madison Reidy is the host of New Zealand’s only financial markets show Markets with Madison. She joined the Herald in 2022 after working in investment, and has covered business and economics for television and radio broadcasters.
